JSW Energy rose 1.71% to Rs 315.65 after the company said that its step down subsidiary, JSW Renew Energy Two, has started phase-wise commissioning of 450 MW inter-state transmission system (ISTS)-connected wind power project in Tamil Nadu.
JSW Renew Energy Two has commissioned the first phase of 27 MW. This project was awarded under Solar Energy Corporation of India (SECI) tranche X at Tuticorin in Tamil Nadu. This is the company's first greenfield wind power project to be commissioned. The project has power purchase agreement with SECI for a period of 25 years.In addition to this project, the company is also constructing 1.8 GW of greenfield renewable energy capacity in pursuit of reaching 10 GW capacity well ahead of its FY25 timelines, and 20 GW capacity by FY30.
Prashant Jain, joint managing director and CEO of JSW Energy, said, "We are happy to announce the first part commissioning of the SECI X wind project ahead of the schedule. This is an initial step towards progressive commissioning of the green field 450 MW wind project. With this, renewables capacity continues to gain share in our operational capacity mix as we are committed to achieving net zero by 2050."
JSW Energy is one of the leading private sector power producers in India. It has established its presence across the value chains of power sector with diversified assets in power generation and transmission.
On consolidated basis, the company's net profit rose 37.3% to Rs 465.67 crore on 14.4% jump in net sales to Rs 2,387.48 crore in Q2 FY23 over Q2 FY22.
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